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Doriemus signs West Kora oil field farmout with Rey Resources

Gasoil News - Published on Wed, 06 Mar 2019

Image Source: energy-pedia.com
Following execution of term sheet on L15, as announced on 31 December 2018, a wholly owned subsidiary of Doriemus has now executed the Farmout Agreement with a wholly owned subsidiary of Rey Resources. The Farmout Agreement confirms the terms on which the Doriemus group will, subject to fulfilling certain earning obligations, be assigned a 50% interest in the 163 km2 WA onshore block L15 as well as be appointed the operator of the field pursuant to an agreed form Joint Operating Agreement which forms part of the Farmout Agreement and will become operational in conjunction with the assignment of the 50% interest.

Doriemus now plans to finalise the permits required with the Western Australian Government with the aim of recommencing oil production from Kora West.
L15 has an estimated 380,000 barrels of 2P Reserves.
L15 is located only 20km east of Derby in Western Australia.

Source :

Posted By : Rabi Wangkhem on Wed, 06 Mar 2019
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